Belgium Inflation Surges to 4.69 Percent, Highest Since May 2023

(MENAFN) Belgian inflation climbed to its steepest level in more than three years in September, driven by surging energy costs, according to figures released Tuesday by statistics office Statbel.

The annual rate hit 4.69%, up from 3.97% in August and the highest reading since May 2023. Compared with the previous month, consumer prices rose 0.39%.

Energy was the main culprit. Energy inflation accelerated to 24.37% from 16.47% a month earlier, adding 2.15 percentage points to the headline figure. Motor fuels cost 33.9% more than a year ago.

Year-on-year, diesel led the increases at 44.1%, followed by natural gas at 34.9% and gasoline at 29.4%. Package holidays were 22.8% more expensive than in September 2025.

Month-on-month, natural gas rose 6.9%, motor fuels 6.5% and electricity 4.2%. Statbel identified these categories, together with package holidays and domestic heating oil, as the chief drivers of the September rise.

Underlying price pressures were more contained. Core inflation, which strips out energy and unprocessed food, inched up to 3% from 2.99% in August. Services inflation reached 5.25%, while food prices, alcoholic beverages included, were 0.28% lower than a year earlier.

Statbel's preliminary estimate for inflation under the EU's harmonized measure stood at 4.6% for September.

The outlook points higher still. The Federal Planning Bureau projected earlier this month that Belgium's annual inflation rate will reach 5.12% in December.

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